Economy

Industrial production climbs 0.3% in September in face of hurricane headwinds

Industrial production climbs 0.3% in September in face of hurricane headwinds”

Washington, DC, October 17, 2017-Industrial production rose 0.3% in September.

Mining output also climbed by 0.4% in September after slipping by 0.2% in August, while manufacturing output inched up by 0.1% following a 0.2% dip in the previous month.

Meanwhile, increased by a seasonally adjusted 0.1% last month, also in line with forecasts and following the 0.2% drop registered in August that was revised upwards from an initial decline of 0.3%.

Capacity utilization in the manufacturing sector was unchanged at 75.1%, while capacity utilization in the mining sector inched up to 83.5% and capacity utilization in the utilities sector rose to 74.8%.

Output at United States factories rebounded in September after August's steep plunge from the effects of Hurricane Harvey, the Federal Reserve reported Tuesday.

Production of consumer goods and business equipment both bounced back afetr falling in August, rising by 0.5% and 0.8% on the month, respectively. The gained 19 points, or 0.08%, the slipped 2 points, or 0.09%, while the edged down 8 points, or 0.12%. A pair of major storms that swept through the region from Texas to Florida held down production by about 0.25 percentage points, the Federal Reserve said. And for the quarter, industrial production declined at an annual rate of 1.5 percent.

Excluding the effects of the hurricanes, the index would have risen by "at least" 0.5 percent, according the Fed.

Big picture: The economy was stunted briefly by hurricanes Irma and Harvey, but recent evidence suggests most of the damage has been undone.



Like this

loading...
loading...

Latest


17 October 2017
Butta In TDP, But No Official Entry Yet!
Butta Renuka: Senior Leader of YSRCP and Kurnool MP Butta Renuka is all set to join the Telugu Desam Party (TDP). However, YSRCP leaders had managed to prevail on her to continue in the party.

17 October 2017
Power outage: Over 295000 homes and businesses still without power this morning
Speaking on RTÉ tonight, Taoiseach Leo Varadkar confirmed that some homes in Ireland could be without power for more than a week. People are advised to make only essential journeys this morning until all roads can be cleared of debris.

17 October 2017
Digging into the Technicals On Kinder Morgan, Inc. (NYSE:KMI)
Synovus owns 15,511 shares or 0.01% of their U.S. portfolio. 21,758 were accumulated by Welch Gru Limited Liability Corporation. It is positive, as 38 investors sold BLL shares while 9 reduced holdings. 75 funds opened positions while 303 raised stakes.

17 October 2017
Next Weeks Broker Price Targets For Western Digital Corporation (NASDAQ:WDC)
Iridian Asset Management LLC CT lifted its position in shares of Western Digital Corporation by 1.8% during the second quarter. Harbour Capital Advisors LLC acquired a new stake in Western Digital Corporation during the 1st quarter valued at $117,000.

17 October 2017
Fifth Third Bancorp (FITB) to Release Earnings on Tuesday
This particular stock's 5-day moving average is 28.25, its 20-day moving average is 27.83 and its 100-day moving average is 26.26. Artisan Partners Limited Partnership's holdings in Fifth Third Bancorp were worth $158,702,000 as of its most recent SEC filing.

17 October 2017
'Pregnant' Kylie Jenner skips family get together
KYLIE Jenner appeared to skip the Kardashian Christmas episode filming as she was noticeably absent from a family snap. According to People , the Kylie Cosmetics CEO joined the television show's filming, but she opted not to ice skate.

17 October 2017
MSRTC strike illegal, demands not justified, says Transport Minister
Undertaking also threatening to strike work on October 21 (Saturday), commuters are staring at a tough time during festival time. The strike amid the festive season of Diwali has left thousands of passengers stranded at various bus stations across the state.

17 October 2017
IPOB Leader Nnamdi Kanu Returns To Court Today
Mr Kanu, alongside three other defendants, is facing charges bordering on treasonable felony. They were brought in by prison officials amid tight security at about 10:00am.

17 October 2017
US, Japan agree to maximize diplomatic pressure on N. Korea
President Donald Trump's visit to Japan, slated to begin from November 5 among other matters, informed sources said. The two diplomats will join their South Korean counterpart in Seoul for further talks Wednesday on North Korea.

17 October 2017
Nikkei Asia300 Index gains tracking record-high USA stocks
The Nikkei climbed 0.6 percent to 21,284.40 in midmorning trade, and touched 21,347.07, the highest level since late 1996. In country indexes compiled by Nikkei , Hong Kong advanced 0.2% and South Korea added 0.5%, while Taiwan slipped 0.4%.